Intech Investment Management LLC Decreases Stake in Best Buy Co., Inc. $BBY

Intech Investment Management LLC lowered its stake in Best Buy Co., Inc. (NYSE:BBY) by 87.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,439 shares of the technology retailer’s stock after selling 139,948 shares during the period. Intech Investment Management LLC’s holdings in Best Buy were worth $1,301,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Palisade Asset Management LLC purchased a new position in shares of Best Buy in the third quarter worth $25,000. Torren Management LLC purchased a new position in shares of Best Buy in the fourth quarter worth $25,000. Quest 10 Wealth Builders Inc. raised its holdings in shares of Best Buy by 239.2% in the fourth quarter. Quest 10 Wealth Builders Inc. now owns 441 shares of the technology retailer’s stock worth $30,000 after buying an additional 311 shares during the last quarter. Activest Wealth Management raised its holdings in shares of Best Buy by 1,247.1% in the fourth quarter. Activest Wealth Management now owns 458 shares of the technology retailer’s stock worth $31,000 after buying an additional 424 shares during the last quarter. Finally, Wolff Wiese Magana LLC purchased a new position in shares of Best Buy in the fourth quarter worth $32,000. Hedge funds and other institutional investors own 80.96% of the company’s stock.

Insider Activity

In other Best Buy news, CEO Corie S. Barry sold 42,869 shares of Best Buy stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $64.02, for a total value of $2,744,473.38. Following the completion of the transaction, the chief executive officer owned 523,138 shares of the company’s stock, valued at approximately $33,491,294.76. The trade was a 7.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kathleen Scarlett sold 8,049 shares of Best Buy stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $64.02, for a total transaction of $515,296.98. Following the completion of the transaction, the executive vice president directly owned 102,669 shares of the company’s stock, valued at $6,572,869.38. The trade was a 7.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 579,381 shares of company stock valued at $43,163,654 over the last quarter. Insiders own 0.47% of the company’s stock.

Best Buy Trading Up 0.8%

Shares of Best Buy stock opened at $71.56 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.12 and a quick ratio of 0.40. The firm has a fifty day moving average price of $63.28 and a 200 day moving average price of $66.72. Best Buy Co., Inc. has a 1 year low of $55.10 and a 1 year high of $84.99. The stock has a market cap of $15.08 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 1.89 and a beta of 1.30.

Best Buy (NYSE:BBY) last issued its earnings results on Thursday, May 28th. The technology retailer reported $1.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.05. Best Buy had a net margin of 2.73% and a return on equity of 48.70%. The firm had revenue of $8.94 billion during the quarter, compared to analysts’ expectations of $8.82 billion. During the same quarter last year, the company posted $1.15 earnings per share. The firm’s revenue was up 1.9% compared to the same quarter last year. Best Buy has set its FY 2027 guidance at 6.300-6.600 EPS. Equities research analysts predict that Best Buy Co., Inc. will post 6.56 earnings per share for the current year.

Best Buy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 9th. Investors of record on Thursday, June 18th will be issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend is Thursday, June 18th. Best Buy’s dividend payout ratio (DPR) is 71.11%.

Best Buy News Summary

Here are the key news stories impacting Best Buy this week:

• Positive Sentiment: Best Buy reported its first period of positive comparable sales growth in several years, driven by stronger demand in gaming, AI laptops, mobile phones, and other new technology products. The company also pointed to improving higher-margin businesses like Marketplace and Best Buy Ads, which could support profitability. Best Buy Sales Turn Positive As AI Tech Grows And CEO Change Nears
• Positive Sentiment: Management’s Q1 update and earnings call were viewed favorably after the company outperformed expectations and highlighted improving demand across emerging product categories, suggesting consumers are still spending on bigger-ticket electronics despite a tougher backdrop. Best Buy’s Q1 Earnings Call: Our Top 5 Analyst Questions
• Positive Sentiment: KeyCorp raised its FY2027, FY2028, and Q4 2027 earnings estimates for Best Buy, signaling slightly better expectations for future profitability. KeyCorp estimate updates
• Neutral Sentiment: Richard Schulze sold 500,350 Best Buy shares, a headline that may draw attention but does not necessarily change the near-term operating outlook. Richard Schulze Sells 500,350 Shares of Best Buy (NYSE:BBY) Stock
• Neutral Sentiment: Broader retail earnings commentary suggested consumers remain cautious overall, which provides context for BBY’s results but is not specific enough to be a direct catalyst by itself. What Do Retail Earnings Reports Tell Us About Consumer Spending Trends?

Analysts Set New Price Targets

A number of research firms have issued reports on BBY. Jefferies Financial Group raised their price target on shares of Best Buy from $83.00 to $89.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Morgan Stanley raised their price target on shares of Best Buy from $72.00 to $80.00 and gave the stock an “equal weight” rating in a report on Friday, May 29th. Truist Financial raised their price target on shares of Best Buy from $66.00 to $81.00 and gave the stock a “hold” rating in a report on Friday, May 29th. KeyCorp reaffirmed a “sector weight” rating on shares of Best Buy in a report on Wednesday, March 4th. Finally, JPMorgan Chase & Co. raised their price target on shares of Best Buy from $76.00 to $84.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Six research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Best Buy has an average rating of “Hold” and an average price target of $79.05.

Best Buy Company Profile

Best Buy Co, Inc is a leading North American consumer electronics retailer that sells a broad range of products including computers, mobile phones, televisions and home theater systems, major appliances, smart-home devices, gaming hardware and software, wearables and related accessories. The company operates through a mix of large-format stores, smaller specialty locations and an e-commerce platform, offering national and private-brand merchandise from major consumer-technology manufacturers as well as third-party sellers.

Beyond product retailing, Best Buy provides a suite of services aimed at installation, repair and ongoing technical support.